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BTC: low and weak finishing

2022-08-25
525
Fundamental analysis:

Bitcoin remained volatile around 21837. Coinme, a bitcoin ATM company, announced that its 10000 ATM outlets now support users to purchase eth, matic, chain, Doge, LTC and XLM. Neil Bergquist, CEO of the company, said that coinme's integration of six other cryptocurrencies provided users with greater interaction freedom.



Bitcoin btcusd - 4-hour K-line diagram shows:




Technical analysis:


According to the 4-hour chart, the weak side of the low-level narrow range consolidation is slowly rising, and the short-term bulls start to wait for the opportunity to enter the market. The market is still in the low-level weak consolidation, the MACD index is in the short area and maintains a slow upward trend, and the RSI index is in the narrow range consolidation below the 50 equilibrium line;


Long and short turning point: 21325


Pressing position: 21837, 22171


Support position: 21006, 20719


Trading strategy: bullish above 21325, target 21837, 22171


Alternative strategy: bearish below 21325, targets 21006 and 20719

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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